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Sunday 31 January 2016
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Basic Material Stocks Trader’s Alert: Oasis Petroleum (NYSE:OAS), California Resources (NYSE:CRC), Cabot Oil & Gas (NYSE:COG)

Basic Material Stocks Trader’s Alert: Oasis Petroleum (NYSE:OAS), California Resources (NYSE:CRC), Cabot Oil & Gas (NYSE:COG)

On Wednesday, Oasis Petroleum Inc. (NYSE:OAS)’s shares declined – 4.30% to $7.12, as some stocks within the energy and related sectors fall due to the retreat in oil prices recently.

The commodity is reversing Monday’s gains as concerns regarding China’s economic growth and a strong dollar weigh. Oil prices rallied on Monday following escalating tensions in the Middle East between Saudi Arabia and Iran.

Chinese markets are ongoing to decline, having dipped by 7% on Tuesday, Reuters reports. Trading in China, the world’s second largest oil consumer, was halted on Monday after a sharp selloff which followed the release of the country’s latest manufacturing data.

“Last year we talked about supply and demand even surprised on the upside. But with this news flow from China, demand fears have come back,” oil analyst at Baden-Wuerttemberg told Reuters.

Oasis Petroleum is a Houston-based independent oil and exploration company.

Crude oil (WTI) is declining by 1.58% to $36.18 per barrel this afternoon and Brent crude is lower by 2.10% to $36.44 per barrel, according to the CNBC.com index.

Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.

California Resources Corp (NYSE:CRC)’s shares dropped – 0.81% to $1.85.

California Resources Corporation (CRC) declared that Mark Smith, Senior Executive Vice President & CFO, will be participating in a panel negotiation at the Goldman Sachs Global Energy Conference in Miami on January 6th, 2016.

The slides utilized at the conference will be available on the day of the event on the “Earnings and Presentations” page (select the “Investor Presentations” tab) in the Investor Relations section on crc.com.

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids.

Cabot Oil & Gas Corporation (NYSE:COG)‘s shares dipped – 6.89% to $16.36.

Cabot Oil & Gas Corporation (COG) declared that its Board of Directors declared a regular dividend of two cents ($0.02) per share on the Company’s common stock. The dividend will be paid February 12, 2016 to all shareholders of record as of the close of business January 29, 2016.

Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading independent natural gas producer with its entire resource base located in the continental United States.  For additional information, visit the Company’s homepage at www.cabotog.com.

Cabot Oil & Gas Corporation, an independent oil and gas company, develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the United States. The company primarily focuses on the Marcellus Shale in northeast Pennsylvania with about 200,000 net acres in the dry gas window of the play; and the Eagle Ford Shale in south Texas with about 89,000 net acres in the oil window of the play.